Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0225%/8h= +24.7% APRpaid last 24h +0.030%

Price spread now: Orderly against Deribit0.000%7-day average −0.050% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now 0.000%, 7d avg −0.050%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Orderly is 0.050% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1170	−0.0269	get 0.0034% / 1h	26m 32s	$399K	$72K	10x
Short	Orderly PERP_TRUMP_USDC	2.1170	−0.0044	pay 0.0022% / 4h	2h 26m	$5K	$223K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: $47.32
Price spread: 0.000% → −0.050%: $4.96
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $39.27
Costs to cover: 0.130%
Break-even: 1.2 days

Slippage unknown: Deribit: live order book, 22 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 22 min ago	6.27 bp	9.8 bp −$10	23.4 bp −$234	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TRUMP on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective TRUMP/USDC PERP	−0.1827%	1h	2.1080	−0.425%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0496%	1h	2.1188	+0.085%	$937K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0438%	1h	2.1179	+0.043%	$83	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0371%	4h	2.1190	+0.094%	$29.8M	$51.7M	50x	as long as short
Binance TRUMPUSDT	−0.0272%	4h	2.1199	+0.136%	$59.7M	$250.3M	75x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1184	+0.066%	$76K	$746K	25x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0269%	1h	2.1170	long leg	$399K	$72K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1202	+0.150%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0228%	8h	2.1195	+0.120%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0188%	4h	2.1200	+0.142%	$7.6M	$53.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	−0.0182%	4h	2.1212	+0.197%	$655K	$426K	—	as long as short
edgeX TRUMPUSDC	−0.0132%	4h	2.1264	+0.444%	$104K	$263K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0074%	4h	2.1180	+0.047%	$26.5M	$179.5M	50x	as long as short
Orderly PERP_TRUMP_USDCshort	−0.0044%	4h	2.1170	0.000%	$5K	$223K	10x
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	+0.214%	$175K	$4.7M	10x	as long as short
BloFin TRUMP-USDT	−0.0030%	4h	2.1160	−0.047%	$4.1M	$682K	75x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1202	+0.151%	$26K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1190	+0.094%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1160	−0.047%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1208	+0.179%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1222	+0.247%	$399K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1197	+0.129%	$182K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1200	+0.142%	$395K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1190	+0.094%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1200	+0.142%	$15.1M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1210	+0.189%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1180	+0.047%	$475K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1195	+0.119%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0163%	1h	2.1215	+0.213%	$380K	$409K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0200%	1h	2.1205	+0.163%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1150	−0.094%	$242K	$332K	50x	as long as short